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60 NABARD approved projects likely to face times overrun, cost escalation 1/1/2019 10:32:48 PM Early Times Report Jammu, Jan 1: In a bizarre development, over 60 vital projects approved by NABARD were likely to be delayed as the concerned departments were not conveyed about their approval. Sources told Early Times that NABARD sanctioned around 60 projects under Rural Infrastructure Deve-lopment Fund (RIDF)-24 for various departments amo-unting crores but astonishingly the concerned departments including Road and Building Department, Rural Development Department, Public Health Engineering Department etc. were not formally conveyed about the approval so that they could follow up the process. "It has been two months since the projects were sanctioned and with the delay on the part of government, the projects may not start in this financial year. Of 60 projects 31 projects were of Road and Building Department concerning vital roads," they said further adding that the concerned departments should have been informed immediately so that tendering process may have been initiated which take at least one to two months. They further informed that the concerned departments have recommended their projects well in time to the concerned authority and subsequently NABARD also sanctioned them without taking much time but after their sanctions, the concerned departments remained unaware about their sanctions. Pertinently, the NAB-ARD projects are highly co-related with time period and these Projects must be completed within three years of time since the day of sanction as per the guidelines and in some special case NABARD gives one year extra but after assessing all aspects. Although NARABD funding is the committed funding unlike other agencies but the present situation where undue delay is being done on the part of government which will ultimately give rise to projects time overrun, and then cost escalation.   Share This News with Your Friends on Social Network     Comment on this Story

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